Real Estate

24-story Vulcan tower will be apartments

Vulcan Real Estate is reviving plans for the Martin, a 24-story Belltown residential tower, after putting the project on hold for several years.

A main difference is that the tower will be apartments instead of condominiums.

The architect is Callison and the general contractor is Exxel Pacific. Cary Kopczynski & Co. is the structural engineer and Coughlin Porter Lundeen is the civil engineer. The landscape architect is Brumbaugh & Associates. Robin Chell Design will design the interiors.

Vulcan originally proposed 172 condos and 4,300 square feet of retail on a site at Fifth Avenue and Lenora Street, east of the Cinerama movie theater. Microsoft cofounder Paul Allen owns Vulcan and the theater.

The 13,000-square-foot development site is a parking lot.

In Vulcan's updated plans, the number of units has been increased to 188. A Vulcan spokeswoman said studios have been added and the size of some of the units has been reduced, making them more appropriate for the apartment market.

Parking for 125 vehicles is planned, including four levels above ground. Retail has been reduced to about 4,000 square feet.

Groundbreaking is scheduled for December or January, with completion in late 2013.

When the project was first announced in 2005, Vulcan intended for the condos to range from 675 to 1,500 square feet, with prices ranging from the low $300,000s to more than $1 million. That project was shelved after it received its master use permit in 2007.